🤖 Did AI Just Go Too Far?

Good morning. US stock futures were mixed in Tuesday morning trading as stock market indexes continued to break new all-time highs.

🤖 OpenAI in hot water over celebrity voice

📝 Our report: Scarlett Johansson has dropped anchor on OpenAI, claiming their new AI voice sounds like a deepfake of her, despite declining an invitation from company CEO Sam Altman to have her voice used. The actress said she had sought out legal counsel to look into the matter.

 🔑 Key points:

• Johansson said Altman approached her last September and then again two days before it announced ChatGPT-4o on May 13.

• “After much consideration and for personal reasons, I declined the offer. Nine months later, my friends, family and the general public all noted how much the newest system named ‘Sky’ sounded like me.” Johansson said in a statement.

• Johansson said she wrote two letters to Altman and OpenAI, asking them to detail the process of creating Sky. OpenAI said it would pull its ChatGPT AI voice, which launched last week, amid controversy over it sounding like Johansson’s voice.

💡 So what: If OpenAI used Scarlett Johansson's voice without her permission, it could have several implications. Legally, it might lead to a lawsuit for intellectual property infringement or violation of publicity rights, as Johansson could claim unauthorized use of her likeness. Ethically, it raises concerns about the misuse of AI in replicating voices without consent, potentially leading to broader discussions on AI regulations and protections for individuals. Publicly, it could damage OpenAI's reputation, as consumers and other stakeholders might view this as a breach of trust and privacy, potentially leading to backlash and loss of credibility in the industry.

Tuesday - New York Fed President John Williams Delivers Opening Remarks

Wednesday - Minutes of Fed's May FOMC Meeting

Thursday - Atlanta Fed President Raphael Bostic Speaks

Friday - Consumer Sentiment (final), Fed Gov Christopher Waller Speaks

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🚘 Bad BMW!

WHAT: German automaker BMW sneaked at least 8,000 Mini Coopers into the U.S. equipped with electronics from a banned Chinese supplier, according to a recently released U.S. Senate report. The report by Senate Finance Committee Chairman Ron Wyden's staff said BMW imported 8,000 Mini Coopers with parts from a Chinese supplier banned under a 2021 law and that BMW continued to import products with the banned parts until at least April.

WHY: Congress in 2021 passed the Uyghur Forced Labor Prevention Act (UFLPA) law to strengthen enforcement of laws to prevent the import of goods from China's Xinjiang region believed to have been produced with forced labor by members of the country's Uyghur minority group. China denies the allegations.

🦞 Restaurant chains files for bankruptcy…blames “endless shrimp”

WHAT: Red Lobster, fresh off a Chapter 11 bankruptcy filing in Florida, is digging into whether its majority owner, Thai Union, had a hand in the "endless shrimp" promo that racked up $11 million in losses, court docs reveal. Red Lobster, with about 550 casual dining restaurants in the U.S., had offered a $20 endless shrimp dish as a limited-time promotion. Former CEO Paul Kenny made it a permanent, year-round option in May 2023 despite "significant pushback" from other management team members, the documents said.

WHY: Red Lobster, based in Orlando, Florida, is one of the world's largest seafood restaurants with 54 outlets outside the United States and about 36,000 employees. It purchases 20% of all North American lobster tails and 16% of all rock lobsters sold worldwide, according to bankruptcy documents.

🚗 UK passes autonomous vehicles legislation

WHAT: The UK's "world-leading" self-driving car regulations just got the royal seal of approval, officially becoming law with the final rubber stamp from the Automated Vehicles (AV) Act. "While this doesn’t take away people’s ability to choose to drive themselves, our landmark legislation means self-driving vehicles can be rolled out on British roads as soon as 2026, in a real boost to both safety and our economy," Transport Secretary Mark Harper said in a statement.

WHY: The U.K. has been eager to position itself at the forefront of the autonomous vehicle revolution, funding various AV projects and research programs around safety.

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